Monotype Announces Restructuring of Olapic Business

WOBURN, Mass.--(BUSINESS WIRE)--
Monotype Imaging Holdings Inc. (Nasdaq: TYPE) today announced a
restructuring of the Olapic business designed to accelerate its
integration into the core Monotype business, thereby helping Monotype to
drive improved growth and customer value for the Olapic offerings, and
to calibrate investments to better support the Olapic business over
time. As a result, Monotype has reduced its headcount by 80 positions,
primarily Olapic employees.

“As mentioned on our Q3 earnings call, we’ve learned a lot about the
Olapic business in the last year. We believe that integrating the
go-to-market teams and focusing our efforts on key vertical markets will
help us drive faster growth and better serve our customers over the long
term,” said Scott Landers, president and CEO at Monotype. “By aligning
the products, programs and people to the market opportunities, we
anticipate that the Olapic business will be breakeven for the full year
in 2018, sooner than originally expected.”

Landers continued, “Monotype’s business is solid and growing – as
evidenced by our strong Q3 performance, where we delivered revenue at
the high end of our guidance range and profit above expectations, and we
are reiterating the financial guidance we provided on our last earnings
call. We believe today’s actions align our resources and will help us
drive Olapic growth in 2018, with significant improvements in
profitability.”

Forward-looking statementsThis press release may contain
forward-looking statements including those related to future revenues
and operating results, the financial impact of the Olapic acquisition
and the restructuring, the growth of the company’s Creative Professional
business and OEM business, the execution of the company’s product,
growth and expansion strategies and anticipated business momentum that
involve risks and uncertainties that could cause the company’s actual
results to differ materially. Factors that might cause or contribute to
such differences include, but are not limited to: risks associated with
changes in the economic climate including decreased demand for the
company’s products or products that incorporate the company’s solutions;
risks associated with the company’s ability to adapt its products or
services to new markets and to anticipate and quickly respond to
evolving technologies and customer requirements; risks associated with
the company’s development of and the market acceptance of new products,
product features or services; risks associated with the company’s
integration of the Olapic acquisition and the restructuring of the
Olapic business; risks associated with the company’s ability to expand
products and services offered through acquired companies; risks
associated with increased competition in markets the company serves,
including the risks that increased competition may result in the
company’s inability to gain new customers, retain existing customers or
may force the company to reduce prices; risks associated with the
ownership and enforcement of the company’s intellectual property; and
risks associated with geopolitical conditions and changes in the
financial markets. Additional disclosure regarding these and other risks
faced by the company is available in the company’s public filings with
the Securities and Exchange Commission, including the risk factors
included in the company’s Annual Report on Form 10-K for the year ended
December 31, 2016 and subsequent filings. The forward-looking financial
information set forth in this press release reflects estimates based on
information available at this time. These amounts could differ from
actual reported amounts to be included in the company’s future earnings
releases and public filings. While the company may elect to update
forward-looking statements at some point in the future, the company
specifically disclaims any obligation to do so, even if an estimate
changes.

About MonotypeMonotype provides the design assets,
technology and expertise that help create beautiful, authentic and
impactful brands that customers will engage with and value, wherever
they experience the brand, now and in the future. Further information is
available at www.monotype.com.
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